Working capital marketplace C2FO has raised $200 million in a funding round led by SoftBank Vision Fund.
Utilising proprietary algorithms, the company creates a match between accounts receivable and accounts payable to dynamically price the value for early payment in real time. More than 300,000 businesses across 173 countries access the market and receive more than $1 billion in funding every week.
“We invested in C2FO because we think their disruptive innovation offers a solution to an industry that has traditionally lacked cost-efficient alternatives for businesses of all sizes looking to free up cash quickly,” says Akshay Naheta, managing partner for SoftBank Investment Advisers. “We believe the company’s platform provides maximum value for buyers and suppliers and are excited by the company’s vision to become the global exchange for working capital.”
The funding round also included participation from existing investors Temasek and Union Square Ventures.
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